Summary: Rhode Island Health&Educational Building Corp. Newport; General Obligation

S&P Global Ratings assigned its 'AA+' rating, with a stable outlook, to Rhode Island Health&Educational Building Corp.'s $98.5 million series 2022C revenue refunding bonds, issued for the City of Newport, and affirmed its 'AA+' rating, with a stable outlook, on the corporation's existing debt, issued for the city. S&P Global Ratings also affirmed its 'AA+' rating, with a stable outlook, on the city's existing general obligation (GO) debt. Newport's full-faith-and-credit-GO pledge secures the bonds. Bonds will be subject to a minimum 35% debt service subsidy from state school housing aid. Officials intend to use series 2022C bond proceeds to finance an addition to the Pell Elementary School, build a new Rogers High School, and refund the existing $4.7

...S&P Global Ratings assigned its '##+' rating, with a stable outlook, to Rhode Island Health & Educational Building Corp.'s $98.5 million series 2022C revenue refunding bonds, issued for the City of Newport, and affirmed its '##+' rating, with a stable outlook, on the corporation's existing debt, issued for the city. S&P Global Ratings also affirmed its '##+' rating, with a stable outlook, on the city's existing general obligation (GO) debt. Newport's full-faith-and-credit-GO pledge secures the bonds. Bonds will be subject to a minimum 35% debt service subsidy from state school housing aid. Officials intend to use series 2022C bond proceeds to finance an addition to the Pell Elementary School, build a new Rogers High School, and refund the existing $4.7 million GO bond anticipation notes dated April 1, 2021....

Summary